Jackpot Trading Contest Rules

Transcription

1 Jackpot Trading Contest Rules 1

2 Table of Contents 1. Registration and Terms Contest Guidelines Contest Results and Determining the Winners Prizes Complaints and Disputes Force Majeure Changes to the Contest Rules... 8 Commentary to the Contest Rules Index Calculation Formulas Example of a Final Rating Calculation Example of prize calculation when the Final Rating, Recovery Factor, and Minimum Margin Level are the same

3 1. Registration and Terms 1.1. Only current Alpari clients are eligible to participate in the contest. The following is the list of eligible account types: standard.mt4, pro.ecn.mt4, ecn.mt4. A participant may not register more than one account Alpari staff and their relatives are not eligible to participate Accounts opened by corporate entities are not eligible to participate You must be registered to participate in the contest. By registering once, you will automatically be entered in all four rounds. A contest participant may only register once. Note: In order to change any personal information that you entered incorrectly during registration, you will need to send a scan of your passport/id (two-page spread with photo) to contest@alpari.ru. Please include your nickname and any errors you made during registration. A participant can change their personal information up to two weeks after registration Please ensure that you fill out all fields of the registration form You may register for the contest either in myalpari on the Company site Registration can be made by completing the form in the section My Contests. In the same section, you can also open a new standard.mt4 account and register it in the contest If you are already registered in myalpari but do not have an account eligible for entry into the contest, you can head to the section Open an Account within myalpari. You can then select an appropriate account to open, type in your nickname and then tick the checkbox to confirm that you agree with the terms of the contest Only trading accounts not participating in other contests may be used in Jackpot. Note: Your password will be used for authentication only at the moment of registration. You may change your password as soon as the registration is completed. All information in the registration form is protected by a 128-bit encryption key using HTTPS protocol, which prevents unauthorized access Alpari is obliged to keep all contest participant information confidential. Thus, only the nickname, country, and city of each participant is published in the current and overall ratings After successfully completing registration, the account is entered into the register of accounts participating in the "Jackpot" traders' contest The following accounts are eligible for the contest: standard.mt4, pro./ecn.mt4, ecn.mt4. Available deposit currencies are: USD (US dollar); EUR (euro); GLD (GOLD); RUR (Russian RUR) The minimum deposit on a contest account, by currency, is: 500 USD 400 EUR 350 GLD 25,000 RUR At the beginning of each round (at 00:00, based on the time in the MetaTrader terminal, when the daily report on completed transactions (Confirmation) is generated), all accounts are checked to determine if the equity is greater than or equal to the required minimum deposit. If the equity exceeds the minimum deposit, the account is moved to 3

4 the list of "Active Accounts" and is not subject to being checked again for the duration of the round. Accounts with an equity level below the required minimum deposit are listed as "Inactive Accounts". Inactive accounts are checked daily immediately after the Confirmation is generated. A participant whose account is on the "Inactive Accounts" list may deposit funds to his account during the current round. When the check confirms a satisfactory equity level, the account may participate in the contest A contest participant should read these rules carefully and adhere to them during the contest. Not knowing the rules will not be considered legitimate grounds for a complaint Date and time information for registration and each contest round is detailed below: ROUND 1 Registration from 01/01/2016 to 25/03/2016 ROUND 2 Registration from 25/03/2016 to 24/06/2016 ROUND 3 Registration from 25/06/2016 to 23/09/2016 ROUND 4 Registration from 23/09/2016 to 23/12/2016 Start 01:00, 11/ End 01:00, 26/03/2016 Start 02:00, 11/04/2016 End 02:00, 25/06/2016 Start 02:00, 11/07/2016 End 02:00, 24/09/2016 Start 01:00, 10/10/2016 End 01:00, 24/12/2016 Note: All time indicated in EET (The time displayed in MT4). 2. Contest Guidelines 2.1. A contest participant shall carry out all operations on their standard.mt4, pro.ecn.mt4, ecn.mt4 live trading account Contest participants have the right to open positions of any size (as is allowed by the free margin on the trading account) All transactions must be made in accordance with Alpari's "Terms of Business" and other related documents Refer to the Contract Specification page to familiarize yourself with the instruments that will be traded in the contest. 3. Contest Results and Determining the Winners 3.1. The winner of a round is determined as follows: There are two indices that determine the Final Rating: Recovery Factor (Priority A); Minimum Margin Level (Priority B). The Recovery Factor index is considered first, followed by the Minimum Margin Level. Index calculation is accurate to the fourth place after the decimal point. Note: The formulas for calculating the indexes can be found in the commentary to the contest rules (Commentary #1) There are four indexes that influence the formation of the Plus Ranking: Percentage of Profit (Priority #1); Percentage of Maximum Relative Drawdown (Priority #2); Minimum Margin Level (Priority #3); 4

5 Profit Factor (Priority #4). The Percentage of Profit index has top priority, followed by the Percentage of Maximum Relative Drawdown, Minimum Margin Level, and Profit Factor, respectively. Index calculation is accurate to the fourth place after the decimal point. Note: The formulas for index calculation can be found in the commentary to the contest rules (Commentary #1) The final rating of a contest participant is calculated using the following method: The Plus Ranking- includes participants with a positive result, i.e. the current liquid balance is more than the initial deposit (BeginningEquity). The Plus Ranking is formed in accordance with index priority level (see clause 3.1.2). If the Percentage of Profit reading of two or more participants is the same, then placement in the Plus Ranking is determined by the Percentage of Maximum Relative Drawdown (Priority 2). If both the Percentage of Profit and Percentage of Maximum Relative Drawdown readings are the same for two or more participants, then Plus Ranking placement is determined by the Minimum Margin Level index (Priority 3). If the first three priority readings are the same for two or more participants, then placement in the Plus Ranking is determined by the Profit Factor index (Priority 4). If ALL the priority readings are the same for two or more participants, the participant with the smaller login number to MetaTrader 4 takes a higher place in the rating. The Final Rating is calculated for each participant in the Top 25 of the Plus Ranking, which earns them rating points on each index (refer to clause 3.1.1). The participant who is in first place in the final rating of the Recovery Factor index (i.e. has the best reading of that index) gets 25 points, the participant in second place 24 points, and so on. The participant in 25th place gets 1 point. If two or more participants have the same Recovery Factor reading, the participant who has a higher standing in the Plus Ranking will have the higher ranking. The participant who is in first place in the final rating of the Minimum Margin Level index (i.e. has the best reading of that index) gets 25 points, the participant in second place 24 points, and so on. The participant in 25th place gets 1 point. If two or more participants have the same Minimum Margin Level reading, the participant who has a higher standing in the Plus Ranking will have the higher ranking. The sum of all points is the participant's Final Rating (IR). Note: An example of the Final Rating calculation can be found in the commentary to the contest rules (Commentary #2) In the case that two or more participants have the same Final Rating, the tie-breaker will work in favor of the participant with the highest index score (in order of priority) (see clause 3.1.1). For example, if the Final Rating of two or more participants is the same, their placement in the rating will be determined by the Recovery Factor index, which is Priority A. If the Recovery Factor reading is also the same, placement in the rating is determined by the Minimum Margin Level (Priority B) Alpari publishes the preliminary results (without disclosure of the transaction register) on the company website within 96 hours of the end of a contest round Preliminary results are subject to appeal for 144 hours after the end of the contest round, after which they become final and are no longer subject to appeal Requests for the credit of prizes are accepted for 60 days after the end of a round Prizes will be credited within 60 days of the end of the round. 4. Prizes 4.1. According to the results of the round, the following participants are awarded Participants ranked in the Top 20, in accordance with clause 3.1, will receive cash prizes in one of the following amounts (determined by their ranking), which Alpari credits to the participant's live account used in the contest: 5

6 Place 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th 13th 14th 15th 16th 17th 18th 19th 20th Prize 10,000 USD 7,000 USD 5,000 USD 2,000 USD 1,000 USD 900 USD 800 USD 700 USD 600 USD 500 USD 450 USD 400 USD 350 USD 300 USD 250 USD 200 USD 150 USD 100 USD 70 USD 50 USD If two or more participants end up with the same ranking (for example, two participants finish in second place), the prize pool reserved for that place is shared evenly between those participants. Note: There is an example of a split prize pool in the commentary to the contest rules (Commentary #3) Participants who finish from 21 st to 40 th place receive prizes in the form of bonus points (ALP) in accordance with clause 3.1. Depending on the position in which the participant finishes, the following amounts will be credited to the participant s bonus account: Place 21st 22nd 23rd 24th 25th 26th 27th 28th 29th 30th Prize Amount 10,000 ALP 7,000 ALP 5,000 ALP 3,000 ALP 2,500 ALP 2,000 ALP 2,000 ALP 2,000 ALP 2,000 ALP 2,000 ALP 6

7 31st 32nd 33rd 34th 35th 36th 37th 38th 39th 40th 1,500 ALP 1,500 ALP 1,500 ALP 1,500 ALP 1,500 ALP 1,000 ALP 1,000 ALP 1,000 ALP 1,000 ALP 1,000 ALP A participant who is awarded with a prize is not allowed to credit the prize to another live account, in particular an account that is not in the name of the participant. The prize, depending on whether in USD or ALP, will only be credited to the live account used by the participant during the contest round or to the participant s bonus account correspondingly A participant can withdraw the prize at any time after the prize is credited to the live account, in accordance with clause 4.1, using any of the withdrawal methods listed on the website Prizes are credited to a client's live account according to Alpari's internal exchange rates, which are published daily in myalpari inside the Conversion Rates and Fees section Winners and runners-up are obligated to participate in Alpari promotional events, interviews, photo essays and public announcements on current promotions. Alpari is obliged not to disclose any personal information (including full names) of any participants without their consent In the case of refusal to participate in promotional events, interviews, public announcements, etc., the Contest Administration has the right to disqualify a participant and give the prize to the participant who placed next in the Overall Rating. 5. Complaints and Disputes 5.1. All complaints that arise during the contest associated with operations on a trading account are considered in accordance with the "Terms of Business" All complaints addressing the results of a round or the entire contest should be sent to contest@alpari.ru with the subject: "Jackpot". Complaints sent by another method (particularly on the Alpari Forum), will not be taken under consideration In the case that a participant has a complaint about the incorrect, in his opinion, reflection of his contest account in either of the ratings (Plus or Final), the participant must, along with all the requirements described in clause 5.2, include their version of the rating calculation, on the basis of which the participant thinks that their account rating was published on the Alpari website incorrectly The Contest Administration has the right to reject a complaint in the case that it does not conform to the terms specified in clauses 5.2 and In any disputes, the Contest Administration will possess the sole authority to make final decisions based on common market practice If it is revealed that a participant is intentionally using mistakes or inaccuracies in the rating formula calculation or the contest rules to raise the rating of their account, the Contest Administration has the right to warn this participant of their potential disqualification, and in some cases, disqualify the participant. Also, in the event of any 7

8 fraudulent actions by the participant in their relationship with the Company in general, or in other circumstances, the Contest Administration has the right to disqualify this contestant. 6. Force Majeure 6.1. The Contest Administration has the right to suspend or terminate the contest if a situation arises where the conditions are unfair for most participants The Contest Administration has the right to suspend or terminate the contest if its continuation is rendered impossible due to extraordinary circumstances beyond the control of the Contest Administration (natural disasters, war, political conflict, etc.) In the case of suspension or termination of the contest, the Contest Administration may resume the contest with the same participants (having saved or restored account data at the moment the contest was suspended), or hold registration again and start the contest again from the beginning. In all cases, the final decision will be made by the Contest Administration and all information on this decision will be posted on the website with reasonable advanced notice If the contest is not resumed and completed, the results at the moment of suspension will not be used to as a basis for the awarding of prizes. 7. Changes to the Contest Rules 7.1. If there is any glaring error in the criteria for selecting a winner, Alpari will make necessary changes in the formulas for the rating calculation The Contest Rules may be supplemented with any necessary explanatory documents The final results of each round are not subject to revision. Commentary to the Contest Rules 1. Index Calculation Formulas Recovery Factor The Recovery Factor index describes the relationship between the Percentage of Profit and the Percentage of Maximum Relative Drawdown. Recovery Factor = Percentage of Profit / MaxRelativeDrawdown Percentage of Profit (%) Percentage of Profit = (EquityDaily-BeginningEquity-(Deposit-Withdrawal)) / (BeginningEquity+Deposit)*100(%) Where: BeginningEquity the initial deposit (Equity at the time the Confirmation is generated); EquityDaily funds (Equity) at the time the Confirmation is generated; Deposit funds deposited to the account during the round; Withdrawal funds withdrawn from the account during the round (at absolute value); Equity current account balance; Equity = Balance + Floating Profit- Floating Loss, Floating Profit/Loss non-fixed profits/losses on open positions under current rates. Note: Depositing funds lowers the Percentage of Profit index. 8

9 Percentage of Maximum Relative Drawdown (%) Drawdown is the difference between one of the highest peaks on the EquityDaily movement chart and the closest lowest peak. Drawdown = MaximumPeak NextMinimumPeak, where MaximumPeak is the high extreme on the EquityDaily movement chart; NextMinimumPeak is the closest low extreme to the high extreme on the EquityDaily movement chart. An example of the Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below: DrawDown1 = H1 L1 = = 432 DrawDown2 = H2 L2 = = 502 DrawDown3 = H3 L3 = = 814 DrawDown4 = H4 L4 = = 820 Note: Withdrawing funds worsens the Percentage of Maximum Relative Drawdown index. MaxRelativeDrawdown (%) determines which maximum losses will be fixed on the account. In Figure 1, the main stages of the Relative Drawdown movement are shown in numeric form. The final value of the Relative Drawdown is the drawdown under number "3". MaxRelativeDrawdown (%) = Max of (Drawdown / MaximumPeak * 100) (%), where Max of "the maximum of"; Drawdown drawdown; Maximum Peak the high extreme on the EquityDaily movement chart. An example of the Relative Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below: PercentDrawDown1 = (H1 L1) / H1 х 100 = ( ) / х 100 = 4.31% PercentDrawDown2 = (H2 L2) / H2 х 100 = ( ) / х 100 = 5% PercentDrawDown3 = (H3 L3) / H3 х 100 = ( ) / х 100 = 7.82% PercentDrawDown4 = (H4 L4) / H4 х 100 = ( ) / х 100 = 7.61% Relative Drawdown = 7.82% 9

10 Note: In this example, Relative Drawdown "3" has a lower absolute value than the absolute value of Drawdown "4", but a higher percentage value. Minimum Margin Level Minimum Margin Level reflects the minimum margin level at the moment a position is opened for the duration of the contest round. MinМаrginLevel = Min of (МаrginLevelDeal), where Min of "minimum of"; МаrginLevelDeal expresses the relationship of Equity to necessary margin at the moment a position is opened (immediately after opening), or at the start of a round; МаrginLevelDeal = Equity / Margin * 100 (%); Equity current account balance; Equity = Balance+ Floating Profit- Floating Loss; Floating Profit/Loss non-fixed profits/losses on open positions under current rates; Мargin current total deposit. Profit Factor Profit Factor shows profitability, the relationship between total profits and total losses: Profit Factor = Gross Profit / Gross Loss, where Gross Profit total profit, the sum of all daily profits; Gross Loss total loss, the sum of all daily losses; Daily profits/losses = EquityDaily (n) EquityDaily (n-1); n date of Confirmation generation. Note: Deposit or withdrawal of funds registers on the following day. 2. Example of a Final Rating Calculation Account Nickname Recovery Factor (points) Min. Margin Level% (Points) Final Rating Gatti (18) 729 (21) 39 10

11 3. Example of prize calculation when the Final Rating, Recovery Factor, and Minimum Margin Level are the same Place nickname Recovery Factor (Score) Min. Margin Level% (Score) Final Rating Prize 1 Gatti USD 2 Gatti USD 3 Gatti USD 4 Gatti USD 5 Gatti USD 6 Gatti USD 7 Gatti USD 8 Gatti USD 9 Gatti USD 10 Gatti USD 11 Gatti USD 12 Gatti USD 13 Gatti USD 14 Gatti USD 15 Gatti USD 16 Gatti USD 17 Gatti USD 18 Gatti USD 19 Gatti (9) (3) USD 20 Gatti (9) (3) USD In this example, Gatti19 and Gatti20 have the same final rating and thus will split the prize pool for 19th and 20th places. Prize = prize pool / number of contenders. In this example, each participant receives a prize in the amount of ( ) / 2 = 60 USD. 11